Res 2018-142/approving a contract with the San Marcos River Foundation, Inc. for the City to purchase approximately 249 acres of land, commonly referred to as the “Millican Tract,” in the vicinity of Palomino Lane and Country Estates drive for a price of

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issued by Title Company, as agent for Underwriter, in conformity with the last Title Commitment delivered to and approved by Buyer. 2. Survey. "Survey" means the survey of the Property prepared by Bettersworth & Associates, Inc. and dated January 27, 2016 delivered by Seller to Buyer prior to the Effective Date. 3. [INTENTIONALLY OMITTED] 4. Delivery of Title Commitment and Legible Copies. Seller must deliver the Title Commitment to Buyer by the deadline stated in section A.2.; and legible copies of the instruments referenced in the Title Commitment Search by the deadline stated in section A.S. 5. Title Objections. Buyer has until the deadline stated in section A.6. ("Title Objection Deadline") to review the Survey, Title Commitment, and legible copies of the title instruments referenced in them and notify Seller of Buyer's objections to any of them ("Title Objections"). Buyer will be deemed to have approved all matters reflected by the Survey and Title Commitment to which Buyer has made no Title Objection by the Title Objection Deadline. The matters that Buyer either approves or is deemed to have approved are "Permitted Exceptions." If Buyer notifies Seller of any Title Objections, Seller has five days from receipt of Buyer's notice to notify Buyer whether Seller agrees to cure the Title Objections before closing("Cure Notice"), Seller being under no obligation to cure. If Seller does not timely give its Cure Notice or timely gives its Cure Notice but does not agree to cure all the Title Objections before closing, Buyer may, within five days after the deadline for the giving of Seller's Cure Notice, notify Seller that either this contract is terminated or Buyer will proceed to close, subject to Seller's obligations to resolve the items listed in Schedule C of the Title Commitment, remove the liquidated liens, remove all exceptions that arise by, through, or under Seller after the Effective Date, and cure only the Title Objections that Seller has agreed to cure in the Cure Notice. At or before closing, Seller must resolve the items that are listed on Schedule C of the Title Commitment, remove all liquidated liens, remove all exceptions that arise by, through, or under Seller after the Effective Date of this contract, and cure the Title Objections that Seller has agreed to cure. Buyer's City Manager may agree to extend the Closing Date to a mutually agreed date if necessary to enable any Cure under this paragraph. G. [INTENTIONALLY OMITTED] H. Representations The representations stated in Exhibit B are true and correct as of the Effective Date and must be true and correct on the Closing Date. 1. Condition of the Property until Closing; Cooperation; No Recording of Contract Maintenance and Operation. Until closing, Seller will (a) maintain the Property as it existed on the Effective Date, except for reasonable wear and tear and casualty damage; (b) 4